Belle Foods Files for Chapter 11 Bankruptcy
Birmingham-based Belle Foods has filed for Chapter 11 bankruptcy protection, saying the company is struggling to pay debt with revenue from its 57 stores throughout the Southeast.
AL.com (http://bit.ly/12ai8oy ) reports the company, which used to run Bruno's and Food World stores in the Birmingham area, filed for bankruptcy Monday.
In April, the company announced plans to hire 300 part-time workers at its stores in Alabama, Georgia, Florida and Mississippi.
Company officials say a decline in business, technical issues with its accounting system and issues with its lending structure and relationship all factored into the decision to file for bankruptcy.
Information from: The Birmingham News, http://www.al.com/birminghamnews